CBOE again applies for the admission of Coinbase surveillance agreements for the approval of 5 Bitcoin ETFs.

CBOE again applies for the admission of Coinbase surveillance agreements for the approval of 5 Bitcoin ETFs.

The Chicago Board Options Exchange (CBOE) has again applied to record monitoring agreements for five Bitcoin Exchange Traded Funds (ETFS) from Coinbase. This step takes place after the company had previously made a similar application in January.

An ETF is an ETF an financial instrument that enables investors to invest in a variety of assets such as stocks, raw materials or in this case cryptocurrencies. A Bitcoin ETF would enable investors to invest in Bitcoin without having to buy or store physical bitcoins.

The CBOE already has experience with the introduction of cryptocurrency ETFs. In December 2017, the CBOE Bitcoin Futures ETF was introduced, which enabled investors to speculate on the price development of Bitcoin. However, this ETF was not directly linked to Bitcoin, but was based on Bitcoin futures, which means that investors bet on the future price development of Bitcoin.

The CBOE's current application aims to include the monitoring agreements for five Bitcoin ETFs from Coinbase. Coinbase is one of the largest and most famous cryptocurrency exchanges worldwide. By taking these agreements, CBOE could pursue Bitcoin's price development on Coinbase and thus create the basis for trading with Bitcoin ETFs.

The admission of Bitcoin ETFs could mean a big step for the legitimation of Bitcoin and other cryptocurrencies. ETFs are considered to be relatively safe and regulated investment instruments that are also accessible to institutional investors. The introduction of Bitcoin ETFs could lead to more institutional investors entering the cryptocurrency market, which could lead to greater acceptance and greater interest in cryptocurrencies as a whole.

However, there has been no approval of a Bitcoin ETF by the Securities and Exchange Commission (SEC), the US stock exchange supervisory authority. In the past, the SEC has rejected a number of Bitcoin ETF applications because it has expressed concerns about volatility and manipulation options on the cryptocurrency market.

It remains to be seen whether the CBOE will be more successful with its renewed application. If the approval is granted, this could be an important turning point for Bitcoin trading and cryptocurrency markets as a whole. At the moment, however, there is still a lot of uncertainty as to when and whether a Bitcoin ETF will be introduced at all. Investors and interested parties should keep an eye on the further developments in this area.